10% 0 to $11,000
12% $11,000 to $44,725
22% $44,725 to $95,375
24% $95,375 to $182,100
32% $182,100 to $231,250
35% $231,250 to $578,125
37% Over $578,125
10% 0 to $22,000
12% $22,000 to $89,450
22% $89,450 to $190,750
24% $190,750 to $364,200
32% $364,200 to $462,500
35% $462,500 to $693,750
37% Over $693,750
10% 0 to $11,000
12% $11,000 to $44,725
22% $44,725 to $95,375
24% $95,375 to $182,100
32% $182,100 to $231,250
35% $231,250 to $346,875
37% Over $346,875
10% 0 to $15,700
12% $15,700 to $59,850
22% $59,850 to $95,350
24% $95,350 to $182,100
32% $182,100 to $231,250
35% $231,250 to $578,100
37% Over $578,100
10% 0 to $2,900
24% $2,900 to $10,550
35% $10,550 to $14,450
37% Over $14,450
Social Security Tax Rate: Employers: 6.2%
Social Security Tax Rate: Employees: 6.2%
Social Security Tax Rate: Self-Employed: 15.3%
Maximum Taxable Earnings: $160,200
Medicare Base Salary: Unlimited
Medicare Tax Rate: Employers: 1.45%
Medicare Tax Rate: Employees: 1.45%
Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers): 0.9%
Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers): 3.8%
American Opportunity Credit (per student): $2,500
Lifetime Learning Credit (per return): $2,000
Student Loan Interest Deduction: $2,500
Coverdell Education Savings Account Contribution: $2,000
Business expensing limit: Cap on equipment purchases: $2,890,000
Business expensing limit: New and Used Equipment and Software: $1,160,000
Qualified Business Income threshold amount: $182,100 (single and head of household)
$364,200 (married filing joint return)
Qualified Small Employer Health Reimbursement Arrangement limit: $5,850 (single coverage)
$11,800 (family coverage)
Prior-year safe harbor for estimated taxes of higher-income: 110% of your 2022 tax liability
Standard mileage rate for business driving: 65.5
Standard mileage rate for medical driving: 22
Standard mileage rate for charitable driving: 14
Child Tax Credit: $2,000
Unearned income maximum for children under 19 before kiddie tax applies: $1,250
Maximum capital gains tax rate:
taxpayers with income $44,625 to $492,300 15%
single filers, $89,250 to $553,850 15%
married filing jointly 15%
Maximum capital gains tax rate:
taxpayers with income above $492,300 20%
single filers, $553,850 20%
married filing jointly 20%
Capital gains tax rate for unrecaptured Sec. 1250 gains: 25%
Capital gains tax rate on collectibles: 28%
Maximum contribution for Traditional/Roth IRA: $6,500 if under age 50
$7,500 if 50 or older
Maximum employee contribution to SIMPLE IRA: $15,500 if under age 50
$19,000 if 50 or older
Maximum Contribution to SEP IRA: 25% of eligible compensation up to $66,000
401(k) maximum employee contribution limit: $22,500 if under age 50
$30,000 if 50 or older
Estate tax exemption: $12,920,000
Annual Exclusion for Gifts: $17,000
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